Sunday, December 21, 2008

Wednesday, December 10, 2008

The Rise and Fall of the Southern California Housing Empire

"Southern California according to DataQuick reached a peak median price of $505,000 in July of 2007. Since that time, the median price has fallen to $300,000. Keep in mind the median household income for Southern California is under $50,000. So at the peak, it would take the median household income 10 times their annual earnings to purchase a home in the region. "

FULL STORY: The Rise and Fall of the Southern California Housing Empire: Foreclosures, Bad Investments, and Psychological Deception. � Dr. Housing Bubble Blog